A lot of people envision retirement as a time to relax, travel, and spend with family. But the sad fact is many senior citizens are often financially unprepared for it. Their pension might not be enough to handle medical emergencies or unexpected expenses. Because they no longer have a job, many retirees are wondering if they can still take out a car equity loan Fort Saskatchewan Alberta loan.
Can Retirees Still Get an Auto Title Loan?
Yes, they still apply for a title loan. Companies offering this type of financial assistance will still consider applicants even if they have poor credit or are unemployed as long as they have collateral and can prove that they can pay back the loan. Title loans are considered as secured loans and your car, or more specifically, the title of ownership will act as collateral. This means the vehicle should have enough equity since it will determine how much you can borrow.
While the collateral involved will cover the auto finance loan, applicants still have to prove they can make regular monthly payments. If you’re retired, you can use pension slips as your proof of income. You can also provide evidence of alternative income, like alimony, child support, or money from a freelancing gig.
Trusted Car Loan Expert
Canadian Equity Loans is your best bet to getting the financial help you need. This trusted company can provide you with as much as $50,000 in loans. They’re known for having the lowest interest rates and very affordable monthly payments. They also offer early payouts without penalties. You don’t even have to undergo them mandatory credit checks demanded by traditional lenders. Their fast approval process ensures you get the money you need within the day. Log on to their website to apply or call their toll-free number at 1-844-586-6311.
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